Indications that this will be a bumper year

THE High Street Auction Co got off to a good start with its first auction for the year, with seven lots confirmed on the floor at the fall of the hammer.

“Such a high confirmation rate must be a record of sorts,” Lance Charlton-Milton of High Street said afterwards.

“The market is definitely buoyant in spite of the hike in the interest rate. The full signing room says it all, showing the positive attitude of the clients. The indications definitely point to a good year.”

A top price of R13m was fetched for a modern factory complex at Driehoek, Germiston, after an opening bid of R8m.

Offering a gross lettable area of 3,534m² on a stand of 4,897m², the complex houses four factory units. Also in this price range was a warehouse and offices which came on the market as a result of a corporate disposal. The building in the Kyalami Business Park was sold with vacant occupation.

The modern and wellmaintained structure has a gross lettable area of 2,470m², including a mezzanine floor, two loading bays and ample parking. It fetched R11.75m.

The most attractive lot was a mansion in Saddlebrook Estate, Kyalami, which was sold for R10.5m in a pre-auction transaction. The 10,000m² property includes four en-suite bedrooms, four double garages, swimming pool, covered patio, wine cellar, basement cinema, staff quarters and water storage tanks.

More central was a retail block on a corner stand at 5 Moseley Street, Doornfontein. The three storey building with six ground floor retail shops, offering a gross lettable area of 11,000m² was knocked down for R2.8m. There was good bidding for a corporate office park on Modulus Road, Ormonde. Consisting of four adjacent office components with a gross lettable area of 300m² a block on an erf of 2,351m²

The partially let complex attracted a top bid of R7.35m.

What was described as a wellmaintained warehouse with a gross lettable area of 1,350m² in Jeppestown was knocked down for R1.55m.

Recalling the days when Rivonia was a suburb of stately country-style residences before the conversion to office and commercial buildings, was a Tudor-style house now used as office headquarters and training centre. The building with a gross lettable area of 720m² fetched R5m.

A 126m² penthouse in the Lighthouse Mall on Chartwell Drive, Umhlanga Rocks, offered the most magnificent sea view. The penthouse with three bedrooms and two bathrooms over two levels was sold with two enclosed parking bays. It received a final bid of R2.37m. Another Umhlanga property on offer was an exclusive office in African Palms on Palm Boulevard, Umhlanga Ridge.

It fetched R2.5m. The building is opposite the main entrance to the Gateway Shopping Centre.

Brought to the market on a bank instruction was a 495m² industrial stand on Albert Street, City & Suburban, Johannesburg. Improvements include a warehouse and offices. It was knocked down for R480,000.

A vacant factory on Dames Avenue, Rand Leases, Florida, offering a gross lettable area of 400m² on a stand of 730m² fetched R905,000. More was paid for a warehouse and offices on Victoria Street, Germiston, which received a final bid of R1.15m after an opening bid of R750,000.

In the heavy industrial section, a facility on Barium Road, Alrode Ext 7 was sold with vacant occupation for R5.35m. The facility has a gross lettable area of 2,411m² on a stand of 4,004m² and an external steel gantry with two overhead cranes. One is operational.

More unusual was a complex which could be called a self-contained village, consisting of 40 residential units and six shops on an erf of 5,000m² The stand once housed the old Turffontein Hotel. Belonging to a deceased estate, the complex fetched R5m.

Monaghan Farm Eco Estate brought to the market on an attorney’s instruction received a closing bid of R5.3m. Improvements of 650m² include a four bedroom house all en suite, two reception rooms, pool and triple garage on a 3,848m stand. A final bid of R5.5m was received for a Benrose warehouse with gross lettable area of 2,260m²

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